obv
On-Balance Volume (Cumulative volume indicator)
obv(source)
Parameters
| Name | Type | Description |
|---|---|---|
source |
field | Data series to determine direction (default: close) |
Formula
OBV = OBV[1] + volume if source > source[1], OBV[1] - volume if source < source[1], else OBV[1]Examples
obv(); # OBV based on close price (default)
obv(close); # Explicit close-based OBV
x = obv(); x > x[50]; # OBV trending up (confirming uptrend)Returns
float
Notes
Starts at 0 on the first bar; the cumulative SUM never NULLs since the CASE always resolves to a concrete +volume/-volume/0
References
TradingView: ta.obv; developed by Joe Granville